S&P 500, Nasdaq 100, Dow, Russell 2000 All Soar To Record Highs: What's Moving Markets Friday

Another historic session is unfolding on Wall Street, where every major index surged to new records by midday trading on Friday, even as Washington's shutdown dragged into its third day.

HUM stock is racing ahead of the pack. See what is driving the move here.

Investors are shrugging off the political gridlock, keeping faith in AI-driven growth, strong corporate earnings and expectations for Fed rate cuts.

The absence of September jobs data, delayed by the shutdown of agencies like the Bureau of Labor Statistics, didn't deter traders from betting heavily on another Fed rate cut later this month. Fed futures now price in a 97% chance of a 25-basis-point cut, which would bring rates down to 3.75%–4%.

With official data unavailable, investors and policymakers are leaning on private indicators that continue to suggest a cooling labor market.

The S&P 500 climbed 0.6% to 6,750, the Dow Jones surged 1.1% past the 47,000 milestone, and the Russell 2000 rallied 1.4% to 2,493. The Nasdaq 100 lagged but still gained 0.2%, also notching new highs at 24,940.

Ten of 11 sectors advanced, with consumer discretionary the lone decliner, pulled lower by a 2% drop in Tesla Inc. (NASDAQ:TSLA).

Precious metals resumed their rally after Thursday's pause: gold rose 0.7% to $3,890 an ounce, silver jumped 2.5% to $48. Copper gained more than 3%, topping $5 per pound.

Meanwhile, Bitcoin (CRYPTO: BTC) surged over 3% to $124,000, moving within striking distance of its August record high at $124,500.

Friday’s Performance In Major U.S. Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.5% to $618.10.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 1.1% to $470.27.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) edged 0.1% up to $606.25.
• The iShares Russell 2000 ETF (NYSE:IWM) rose 1.5% to $247.77.
• The Utilities Select Sector SPDR Fund (NYSE:XLU) outperformed, up 1.9%; the Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) lagged, down 0.3%.

S&P 500’s Top 5 Gainers On Friday

S&P 500’s Top 5 Losers On Friday

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